1.Last year the sales at Summit Corporation were $419,000 and were all cash sales. The expenses at Summit were $259,500 and were all cash expenses. The tax rate was 30%. The after-tax net cash inflow at Summit last year w2.a

Last year the sales at Summit Corporation were $419,000 and were all cash sales. The expenses at Summit were $259,500 and were all cash expenses. The tax rate was 30%. The after-tax net cash inflow at Summit last year was: Multiple Choice $159,500 $47,850 111,650 $419,000